Pirelli’s Carlisle plant secures Govt regional funds
Pirelli has been named a co-beneficiary of the £950 million to be handed out in the second round of the Government’s Regional Growth Fund. On October 31, Deputy Prime Minister Nick Clegg announced details of the 119 successful bids; while the level of support Pirelli will receive was not specified, it is believed the funds heading Pirelli’s way will aid in the development of low carbon tyre production methods.
“I am delighted to be able to announce this boost to business, which will jump start growth and create jobs that last in the places that really need it,” said Nick Clegg upon announcing the 119 winning bids. “This targeted support for businesses across the country allows them to expand and create jobs. It unlocks private sector investment – with at least £5 put in for every £1 of public money.”
Business Secretary Vince Cable referred to the Regional Growth Fund as a “very significant boost to local communities” and said the Government expects it to “deliver a huge number of jobs across their businesses and in the supply chain.” In total, the Government anticipates 37,000 jobs will be directly created through the initiative and a further 164,000 through the supply chain.
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